Happy Forgings, a notable player in the forging industry, made a remarkable entry into the stock market, with its shares commencing trading at ₹1,001.25 on BSE and ₹1,000 on NSE. Despite a strong start with an 18% premium, the stock experienced initial selling, dropping to an intraday low of ₹961 on NSE. However, it quickly recovered, reaching a high of ₹1,044. The stock is presently trading around ₹1,025 on NSE.
Market analysts have mixed views on Happy Forgings’ market debut, suggesting the IPO’s performance fell short of expectations due to high valuations. They advise shareholders to hold onto their shares with a stop loss below ₹961, taking advantage of any price increases for profit. They recommend re-entering the market after the stock stabilizes over the next few sessions.
Commenting on the company’s impressive debut, Parth Shah from StoxBox highlighted Happy Forgings’ consistent performance and growth in revenue and EBITDA over the past years. He noted the company’s position as a leading domestic crankshaft manufacturer and its potential growth in the global forging and Indian crankshaft markets.
On the other hand, Arun Kejriwal of Kejriwal Research and Investment Services observed high trade volumes and selling pressure on the stock. He attributes this to its higher pricing, advising investors to set a stop loss below ₹961 and to book profits on price rises.”
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